Worried about how the election affects your marriage? The good news is that it doesn’t. Marriage recognition was established by the U.S. Supreme Court. The justices that wrote that opinion are still on the court, and the court rarely reverses itself.

There are other areas of concern, however, and we strongly recommend that if you have children, you ensure that both parents are recognized as legal parents by doing an adoption, if you have not already done so.

We also recommend that if you are transgender, you get a new passport with the correct gender.

There is about $42 billion in cash being held by state governments that actually belongs to individuals. Some of it may be yours!

“Have you forgotten about a checking or savings account, an old uncashed check, stock, safe deposit box, etc.? Arizona is considered a “custodial state” and holds such property on behalf of the owners of lost or abandoned property. Unclaimed property is reported to Arizona when the owner’s last known address is located in the state. The Arizona Department of Revenue is responsible for finding owners of unclaimed intangible personal property turned over to the state.
The Arizona Department of Revenue handles the state’s unclaimed property, which includes such items as money, uncashed checks, drafts, state warrants, uncashed payroll checks, interest dividends or income, savings and checking accounts, safe deposit box contents, credit balances, customer overpayments, unidentified remittances, and securities.” From Arizona’s Unclaimed Property website.

To check out whether or not you have funds being held for you by the State of Arizona, click on the link below.

Other states also hold unclaimed property. To determine if you may have money held by other states, check out MissingMoney.Com or Unclaimed.org. Please be careful, however, as there are other sites with similar names which charge for the search. These sites and the state governments do not charge for their services or for sending the refund, so if someone asks you to pay, leave the site and go back to either a state site, or the ones listed above. Use the links below to ensure you are on one of the free sites. To make a thorough search, use both.

Whether you are incapacitated for a long period of time, or die a sudden death, at some point, someone else (a surrogate or agent) will need to make decisions for you, and it is frequently a big job. It is easy to say “Oh, my children can work it out,” or “I’ll name John since he is the oldest.” But choosing someone (or more than one) is a crucial decision, and should be made after careful thought, not as a matter of default or emotion. Here are some things to consider.

In General

1.Naming more than 1 person at a time is usually a mistake. They must agree on every small decision and both (or all) must sign off on every piece of paper. It can cause needless confrontations and delays. Pick the best person as the first choice, and then at least 1 and preferably 2 successors. If the first person is unavailable at the time, the next person in line can take over temporarily or permanently.
2.The oldest (or the youngest) is not necessarily the best. Pick the person who is best suited to the task at hand. If the person chosen becomes incapacitated before you, you can choose someone else, or let it default to the next person on your list.
3.Being in the same city is sometimes helpful, but not required. In this age of instant communication, a surrogate decision-maker can function effectively from a distance.
4.The surrogate does not need to be a relative. Just because you have children does not mean that any of them is the best choice. In fact, it can be helpful to family dynamics to choose a neutral third party, such as a competent good friend or trusted advisor.
5.Remember that the surrogate can consult with outside advisors such as attorneys or accountants, and does not need to know everything prior to accepting the duties entailed.
6.The person chosen to make financial decisions for you need not be the same person you choose to make medical decisions. Both are big responsibilities and spreading the work can be not only thoughtful, but prudent. People have different skill-sets and the person who is able to spend time in the hospital working with medical personnel may not be the best person to work with bankers and accountants, pay your bills and file your taxes.

Here are some qualities that should be kept in mind when choosing a surrogate decision-maker.

Financial

1.Organized and able to keep accurate records
2.Able to understand and meet deadlines
3.Capable of understanding finances, file taxes, pay bills, create and adhere to budgets.

Medical

1.Capable of staying calm in an emergency or emotional situation, and make rational rather than emotional decisions.
2.Capable of understanding medical personnel, stand up to doctors and be your advocate.
3.Willing to follow your wishes rather than his or her own. The child who is closest to you may not be willing to stop treatment even if that would be your wish.
4.Strong enough to stand up to family members, patient enough to explain things to family and friends that have questions, and compassionate enough to understand that others may be emotional regarding the situation.

Remember that making decisions and acting for others can be an important and sensitive job. Choose well, and you will minimize the potential problems and conflicts involved in carrying out your wishes.

When someone dies, what happens to that person’s assets frequently depends on the way title to that asset is held.

You may think you know exactly to whom you will be leaving your property, but do you? Is your home in Joint Tenancy With Right of Survivorship (JTWROS)? A beneficiary designation in your will? Solely in your name? In the name of a trust? What about your car and financial accounts?

Be sure to check with your financial institution to ensure the title to your financial accounts is correct and the beneficiary designation is current. If you have questions, please contact us.

In each of the title designation examples above, the person who will receive the property, and how that transfer will take place, are different. Knowing how your asset is titled is especially important in the matter of real property (real estate). The owner usually thinks he or she knows how title is held, but frequently the actual title is different.

Mistakes concerning titles do happen. Some recent examples:

A senior purchased property for cash. She told the seller to title the house in the name of her trust. The title company put the title in the name of the purchaser, instead and that is the deed on record with the County Recorder. If the error hadn’t been caught prior to the owner’s death, the property would have had to go through probate.

A man owned a house in his own name. Several years later, he refinanced the property with his partner. The mortgage is correctly in the name of both, the new title is not, because the title company put the new title back into the name of the original owner.

A woman and her partner purchased property together and asked that the title be put into JTWROS. The title company put it into the names of the women without the joint tenancy designation. If one had died, her half of the property would have gone through probate, and without a will, it would have been given to her nearest living relative.

A man died, telling his son that he wanted his property to go to the son. Unfortunately, his will was not valid, and because he had not recorded a Beneficiary Deed, the property will have to go through probate, and will be split between the son and a long-absent daughter.

It is crucial that everyone be aware of the way the title to his or her property is recorded.

Check It. The easiest way to check how your real estate is titled is to follow the directions for a property title search shown in our Resources section, and pull up the latest recorded deed.

Change It. If the title is not the way you want it, it is relatively easy to change. If you would like assistance with preparing a new deed or correcting an incorrect one, please call us at 602-952-0293.

In Matters of Probate – If You Are Appointed a Personal Representative in a Will

Mandatory Training for Personal Representatives and Guardians and Conservators

Effective September 1, 2012, individuals who are not licensed fiduciaries are required to “complete a training program approved by the Supreme Court before letters to serve as guardian, conservator, or personal representative are issued.”

This affects almost everyone who is appointed as a Personal Representative under the Will of a deceased person.

The training is easy. It comes in 2 parts see below. Each will take about 15 minutes to complete, and it can all be done on-line, or downloaded in pdf format.

At the completion of each segment, a printable certificate of completion can be printed. This certificate MUST be submitted with the initial paperwork requesting appointment as a Personal Representative.

If you need assistance in any aspect of your probate process, call us. We’ll be happy to help!